The Only Game in Town: Stock-Price Consequences of Local Bias

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How researchers see this paper

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Don't Believe the Hype: Local Media Slant, Local Advertising, and Firm Value (2012, unknown): “Hong, Kubik, and Stein (2008) propose a theory that suggests that local investors are likely to be the marginal investors of less visible firms.”
Media Makes Momentum (2014, background): “The setting also allows us to further sharpen the analysis with regard to cross-sectional variation in local bias (see e.g. Hong, Kubik, and Stein (2008), Korniotis and Kumar (2013)).”
Information Immobility and the Home Bias Puzzle (2009, unknown): “local bias = 1 i 1 i share of local asset in local portfolio share of non i local assets in world portfolio ( 17 )”
The Price of Sin: The Effects of Social Norms on Markets (2009, methodology): “These latter findings are consistent with the results reported by Hong, Kubik, and Stein (2008) .”
Corporate Scandals and Household Stock Market Participation (2015, background): “which, as Hong et al. (2008) show, captures the demand for local stocks.”